Measuring and Evaluating Performance Is Important to Managers

question 87

Essay

Measuring and evaluating performance is important to managers.They need to explore how individual and performance measures and other measures can be combined to create a better tool for measuring past performance and driving the future achievement of strategic goals.
Required:
Define the following terms and give one example of each that you can use in this class.
a.Lagging indicator
b.Leading indicator
c.Nonfinancial measure
d.Benchmarking
e.Best practices
Unit 11-1,3,

---

Definitions:

Self-identity

An individual's perception of themselves, encompassing personal values, beliefs, and characteristics.

Self-consciousness

An acute awareness of oneself, particularly regarding one's appearance or actions, often leading to feelings of vulnerability or discomfort.

Conceptions

Ideas, notions, or theories about something, typically formed through mental understanding and thought processes.

Social Reality

Constructs created by society and individuals that are perceived as real, influencing understanding and behavior in the social world.